Wine Spectator: NZ’s Delegat’s Buys Australia’s Historic Barossa Valley EstateMay 3, 2013
One of Australia’s historic wineries, Barossa Valley Estate, has a new owner, Wine Spectator reports. Delegat’s Group Limited, the New Zealand wine company behind the Oyster Bay brand, has purchased the Barossa valley producer for an estimated $25.6 million. Managing director Jim Delegat is betting that his firm can turn around the storied winery, which has suffered financially recently. The deal, expected to close by June, includes the winery, all assets and grower contracts, as well as 98 acres planted to vines.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.